BayCom Corp
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 15, 2024
BCML$31.29+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets – December 31, 2023 and 2022
**Error! Hyperlink reference not valid.**BAYCOM CORP AND SUBSIDIARY
December 31, 2023 and 2022
(In thousands, except for share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · December 31, · · December 31, | ||||||
| · 2023 · 2022 | ||||||
| · · · · · (As Restated) | ||||||
| ASSETS · · | ||||||
| Cash due from banks | | $17,901 | | $26,980 | ||
| Federal funds sold and interest-bearing balances in banks | | 289,638 | | 149,835 | ||
| Cash and cash equivalents | | | 307,539 | | 176,815 | |
| Time deposits in banks | | | 1,245 | | 2,241 | |
| Investment securities available-for-sale ("AFS"), at fair value, net of allowance for credit losses of $0 at both December 31, 2023 and December 31, 2022 | | | 163,152 | | 154,004 | |
| Equity securities | | | 12,585 | | | 13,757 |
| Federal Home Loan Bank ("FHLB") stock, at par | | | 11,313 | | 10,679 | |
| Federal Reserve Bank ("FRB") stock, at par | | | 9,626 | | 9,602 | |
| Loans held for sale | | | — | | 2,380 | |
| Loans, net of allowance for credit losses of $22,000 at December 31, 2023 and $18,900 at December 31, 2022 | | | 1,905,829 | | 2,002,224 | |
| Premises and equipment, net | | | 13,734 | | 13,278 | |
| Other real estate owned ("OREO") | | | — | | 21 | |
| Core deposit intangible, net | | | 3,915 | | 5,201 | |
| Cash surrender value of bank owned life insurance ("BOLI") policies, net | | | 22,867 | | 22,193 | |
| Right-of-use assets ("ROU"), net | | | 13,939 | | | 16,569 |
| Goodwill | | | 38,838 | | 38,838 | |
| Interest receivable and other assets | | | 47,378 | | 45,532 | |
| Total assets | | $2,551,960 | | $2,513,334 | ||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | |
| Noninterest and interest bearing deposits | | $2,132,750 | | $2,085,479 | ||
| Junior subordinated deferrable interest debentures, net | | 8,565 | | 8,484 | ||
| Subordinated debt, net | | | 63,881 | | | 63,711 |
| Salary continuation plan | | 4,552 | | 4,840 | ||
| Lease liabilities | | 14,752 | | 17,138 | ||
| Interest payable and other liabilities | | 14,591 | | 16,533 | ||
| Total liabilities | | 2,239,091 | | 2,196,185 | ||
| Commitments and contingencies (Note 16) | | | ||||
| Shareholders' equity | | | ||||
| Preferred stock, no par value; 10,000,000 shares authorized; no shares issued and outstanding at both December 31, 2023 and December 31, 2022 | | — | | — | ||
| Common stock, no par value; 100,000,000 shares authorized; 11,551,271 and 12,838,462 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively | | 180,913 | | 204,301 | ||
| Additional paid in capital | | 287 | | 287 | ||
| Accumulated other comprehensive loss, net of tax | | (14,592) | | (11,561) | ||
| Retained earnings | | 146,261 | | 124,122 | ||
| Total shareholders’ equity | | 312,869 | | 317,149 | ||
| Total liabilities and shareholders’ equity | | $2,551,960 | | $2,513,334 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.